University towns with major football programs experience an increase in demand for hotel rooms during home football weekends. Hotel management responds to the increase in demand by increasing the price they charge for a room.Periodically, there is an outcry against the higher prices and accusations of"price gouging."

In the diagram to theright, a pair of drawing tools are to be used to produce the following six(6) objects.

First, use the line drawing tool to draw and label the following three(3) curves:

1.) The supply curve (S) of hotel rooms in

Boostertown;

2.) The demand curve (D1) for hotel rooms during

weekends without home footballgames;

3.) The demand curve (D2) for hotel rooms during

weekends with home footballgames;

Second, use the point drawing toolto:

4.) Identify and label(as E1) the equilibrium point

when no home game is played and

5.) Identify and label(as E2) the equilibrium point

when a home game is played.

Finally, use the line drawing tool one more time to draw andlabel:

6.) A line (PC) representing a law passed by the

Boostertown city council preventing room prices

from rising above the prices when no home

game is played.

Carefully follow the instructions above and only draw the six required objects.

0

Quantityofrooms

Price($perroom)

interactive graph